In a dynamic, complex environment, LAC must be able to recognize and understand new challenges and opportunities, adapt to them, and benefit from them. The pursuit of efficient risk management is one way in which LAC
In 2011–12, LAC drafted and communicated its corporate risk profile and developed an internal project management application with a risk management component. Also, after the reorganization that occurred during the year, LAC now has a solid in-house capacity for strategic research and policy development. These changes gave LAC concrete steps that allow it to adapt to change and uncertainty by counting on information that will allow it to make effective decisions on planning, project management, policy making, finances and even audit and evaluation.
Over the next three years, LAC wants to continue gradually implementing integrated risk management by adopting a thorough but light approach so as not to add an administrative burden to the organization. The action plan will be revised yearly as part of the integrated planning process and the results will allow us to review the risks and to update the main risk management instruments, that is, the corporate risk profile and the register of operational risks.
|Area of Management||TBS evaluation|
|Integrated Risk Management (AoM 9)||Acceptable|